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What Is FTX Token? (FTT) Complete Guide & Review About Filecoin

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About FTX Token

FTX Token is a cryptocurrency exchange built by traders, for traders. FTX offers innovative products including industry-first derivatives, options, volatility products and leveraged tokens. We strive to develop a platform robust enough for professional trading firms and intuitive enough for first-time users.

The top exchanges for trading in FTX Token are currently Binance, Huobi Global, FTX, HitBTC, and UPEX. You can find others listed on the crypto exchanges page.

FTX is owned by FTX Trading LTD, a company incorporated in Antigua and Barbuda. FTX was incubated by Alameda Research, a cryptocurrency liquidity provider. FTX’s leveraged tokens aim to provide a clean, automated way for users to get leverage.

FTX token (FTX) is a cryptocurrency derivatives exchange that offers futures, leveraged tokens and OTC trading. … It’s mission is to solve these problems and move the derivatives space toward becoming institutional grade

FTX Token Key Points

Coin Basic Information
Coin Name FTX Token Cryptocurrency
Short Name FIL
Circulating Supply94,346,958 FTT
Total Supply345,219,294
Source CodeClick Here To View Source Code
ExplorersClick Here To Visit
Twitter Page Click Here To Visit Twitter Group
DocumentationClick Here To View
Support24/7
Official Project Website Click Here To Visit Project Website

Trading fees

FTX has a tiered fee structure for all futures and spot* markets, as follows: 

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Updated as of Jan 4, 2021 19:00 SGT

Note that FTX also has a referral program, a VIP program for professional traders, and a Backstop Liquidity Provider program for market makers.

FTT stakers receive maker rebates as low as -0.0030%, and it costs only 25 FTT to have 0 maker fees. See here for more information, and stake your FTT here.

*Fees for spot trades are deducted in the currency you receive. A buy order on the BTC/USD market will have the fees charged in BTC, a sell order will have the fees charged in USD.  

**Using leverage of 50x increases trading fees by 0.02%, while 100x or higher increases trading fees by 0.03%, which are paid to the insurance fund.  However, BTC-PERP and ETH-PERP do not incur the additional 0.02% or 0.03% charges!

Referrals

Each user has a unique affiliate link.  If a new user signs up with your referral code, you will receive 25%-40% of their fees, and they will get 5% of their fees back. See here for more information. Users can’t have referrals retroactively applied if any trading has taken place.

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For non-VIP referees, their taker fees minus referral rebates cannot go below 0.03%; if it would, the excess is subtracted from the referral rebates.

Futures Exchanges

FTX token (FTX) is a cryptocurrency derivatives exchange that offers futures, leveraged tokens and OTC trading. Currently, futures exchanges have many crippling flaws holding the space back. It’s mission is to solve these problems and move the derivatives space toward becoming institutional grade.

Price

FTX Token price today is $9.42 USD with a 24-hour trading volume of $22,415,211 USD. FTX Token is down 5.19% in the last 24 hours. The current CoinMarketCap ranking is #43, with a market cap of $888,751,547 USD. It has a circulating supply of 94,346,958 FTT coins and the max. supply is not available.

History

FTX is a cryptocurrency derivatives exchange launched in April, 2019 that offers futures and leveraged tokens on both individual and baskets of cryptoassets, over-the-counter (OTC) trading, and binary options on the outcome of the 2020 American Presidential election. It is backed by Alameda Research, a trading firm accounting for between $600 million and $1 billion of volume a day or roughly 5% of global volume.

FTX was designed to prevent clawbacks using a three-tiered liquidation model that closes positions with rate-limited orders and leverages an insurance fund to prevent customer losses. Rather than fracturing liquidity across various tokens, collateral is shared in one universal stablecoin wallet to mimic the traditional futures market.

FTX Token also allows traders to take leveraged or short positions without trading on margin or futures with their Leveraged Tokens that mimic the experience of trading on spot markets but allow 3x, -1x or -3x on various tokens. The FTX OTC desk is powered by Alameda and trades around $30 million per day with no fees.

Exchange Token

FTX Token is FTX’s exchange token. Holders get a fraction of exchange fees, a fraction of the liquidation insurance fund, and can use the token as collateral and to get togther OTC spreads on FTX.

Regulation

On November 2, 2019 a company known as Bitcoin Manipulation Abatement LLC sued FTX Trading for alleged market manipulation. The lawsuit seeks $150 million in damages under federal RICO statute, Commodities Exchange, Cal state law and under various common law and equitable theories.

Vernahttps://coinworldstory.com
One of Coinworldstory's longest-tenured contributors, and now one of our news,ico,hyip editors, Verna has authored over 6900+ stories for the site. When not writing or editing, He likes to play basketball, play guitar or visit remote places. Verna, to his regret, holds a very small amount of digital currencies.
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